China Molybdenum Price - October 14, 2022

China molybdenum price rose sharply on the whole in the week ended on Friday, October 14, 2022. 

Under the influence of factors such as the obvious shortage of molybdenum raw material supply and the difficulty in increasing the supply of molybdenum in the next three years, traders are generally reluctant to sell and have a strong bullish sentiment. The surge in molybdenum prices has also caused some industry players to worry about the market outlook.

According to statistics from Chinatungsten Online, the price of molybdenum concentrate this week has risen by about 400 yuan/ton, or 13.56%; ferromolybdenum has risen by about 20,000 yuan/ton, or 10.26%; molybdenum oxide has risen by about 400 yuan/ton, or 13.11 %; sodium molybdate rose about 25,000 yuan/ton, or 18.25%; ammonium tetramolybdate rose about 26,000 yuan/ton, or 14.13%; ammonium heptamolybdate rose about 26,000 yuan/ton, or 13.68%; molybdenum powder rose about 40 yuan/kg, an increase of 10.26%; molybdenum contract rose 43 yuan/kg, an increase of 11.94%.

From the perspective of the supply side, first, when the original inventory was low, the time for the 12th National Congress of the Communist Party of China was approaching, and the pressure on environmental protection was strengthened, which led to the limited release of production capacity of many molybdenum manufacturers, coupled with the depreciation of the RMB and the international molybdenum price. At a relatively high level, it hinders the recovery of my country's molybdenum import market and increases the tension of spot supply in the market.

From the perspective of demand, firstly, under the gold, nine, silver and ten seasons, downstream users have a high willingness to purchase, coupled with the obvious psychology of traders buying up and not buying down, it will increase market demand; second, in manufacturing products Under the upgrade, the market uses more molybdenum. Some research institutions predict that the global molybdenum market supply gap in 2021 will be 4,500 tons of molybdenum, of which my country will have a gap of 13,100 tons of molybdenum; from January to September 2022, the global gap will be 17,900 tons of molybdenum, of which my country will have a gap of 18,200 tons of molybdenum.

In terms of news: data from the China Iron and Steel Association shows that in early October 2022, key statistics iron and steel enterprises produced a total of 21.0775 million tons of crude steel, 19.116 million tons of pig iron, and 20.1712 million tons of steel. Among them, the daily output of crude steel was 2,107,700 tons, a decrease of 1.11% from the previous month; the daily output of pig iron was 1,911,600 tons, a decrease of 2.16% from the previous month; the daily output of steel was 2,017,100 tons, a decrease of 9.19% from the previous month.

Prices of molybdenum products on October 14 2022

Picture of TZC mandrel 

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